Contents

PAGE
About the Author 7
Abbreviations 8
Section-wise Index 9

PART A
STUDY OF DIRECT TAXES
REFERENCER
1. Tax rates for the assessment years 2016-17 and 2017-18 11
2. Amendments at a glance 29
2A. Income Computation and Disclosure Standards 91
3. Tax rates for the last ten assessment years 104
4. Gold and silver rates for the current year, last ten assessment years and on
April 1, 1981 108
5. Tax saving schemes at a glance 109
6. Rates of depreciation
Under the Income-tax Act
- For the assessment year 2003-04 onwards 111
- For power generating units from the assessment year 1998-99 117
Under the Companies Act, 2013 119
7. Deductions and allowances under the Income-tax Act 125
8. Provisions of sections 44D, 44DA and 115A in brief 129
9. Computation of income and tax under sections 115A, 115AB, 115AC, 115AD,
115BBA and 115D 131
10. Withholding tax rates 135
11. Period of limitation under Income-tax Act 141
12. Time-limit for issue of notice during 2016-17 under section 148 157
13. Provisions of sections 54, 54B, 54D, 54EC, 54F, 54G, 54GA and 54H 158
14. Dates with direct taxes 161
Terminology A-1
Income from Salaries A-13
Income from house property A-61
Profits and gains of business or profession A-75
Capital gains A-148
Income from other sources A-210
Clubbing of income A-227
Set off of losses A-229
Exemptions and deductions A-236
Deductions from tax liability A-306
Agricultural income A-308
Return of income A-312
Penalty A-330
Interest A-344
Advance payment of tax A-360
Deduction or collection of tax at source A-364
How to compute tax liability A-414
Tax incidence on trusts A-453
Business trust A-465

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Alternative Investment Funds A-467
Special procedure for assessment of search cases A-470
Tax clearance certificate A-472
Tonnage tax A-473
Securities transaction tax A-475
Fringe benefit tax A-477
Banking cash transaction tax A-477

PART B
TAX TABLES
AY 2016-17 AY 2017-18

Individuals, HUFs and AOPs B-1 B-16

Firms B-30 B-30
Domestic companies B-33 B-33
Foreign companies B-38 B-38
Co-operative societies B-41 B-41
Tax deduction at source B-43

PART C
MARKET QUOTATIONS
EQUITY SHARES - FAIR MARKET VALUE ON APRIL 1, 1981 C-1
GOLD AND SILVER C-14

PART D
TAX TABLES OF PAST SIX YEARS
(Assessment years 2010-11 to 2015-16)
Individuals, HUFs and AOPs D-1